Brady and CFIB team up for lower small business taxes

For immediate release: June 5, 2024

QUEEN’S PARK – MPP Bobbi Ann Brady encourages the public to support lower taxes for small business by signing her petition asking the Ontario government to cut the Small Business Tax Rate (SBTR).

Brady and the Canadian Federation of Independent Business (CFIB) have teamed up to distribute the petition, which, on behalf of 38,000 CFIB small business members, calls on the Ontario government to reduce Ontario’s SBTR from 3.2 per cent (the highest in Canada), beginning with an immediate reduction to at least 2 per cent with a goal of reaching zero. And immediately increase the Ontario small business tax rate deduction threshold to $700,000, index it to inflation annually to avoid future “bracket creep.”

“Small business is a huge economic driver and amounts to over 97 per cent of all businesses in Ontario. That’s a lot of jobs, innovation, and a big contributor to Ontario’s gross domestic product,” said Brady. “The most recent data illustrates, tax/regulatory costs remain the top cost constraint for Ontario small businesses, trailed closely by insurance, wage, and fuel costs. Overall, the data shows the state of business health in Ontario declined slightly compared to the previous month. Time to take action.”

Brady encourages the public to email her office to sign this worthy petition at [email protected]


For more information, contact MPP Bobbi Ann Brady at [email protected] or 519-428-0446